Oct 18, 2011

City leaders look for new financial lifeline for Salt Lake's KCPW

There's been another setback for KCPW in Salt Lake City, the NPR News station that's struggling to pay off a $250,000 private loan from National Cooperative Bank by Oct. 31.

The Salt Lake City Council authorized the city's redevelopment agency last week to provide a six-month loan to help the station meet the payment, but the loan offer has been withdrawn, according to the City Weekly. "Lawyers for the RDA say they did not have the authority to make the loan as they originally had thought, and the city is now pursuing other avenues to help the station," reports Bryan Schott, former KCPW news director. The City Council is considering making a direct loan to the station, but has a very short time frame to do so.

Last week the City Council overruled the recommendation of the RDA's loan committee to approve the $250,000 loan that was to be KCPW's financial lifeline. The decision drew scrutiny of the station's ties to city government.

Councilman Carlton Christensen told City Weekly that the station deserves special consideration. “If KCPW were not in one of our city facilities and an integral part of what we are trying to do downtown, we would have to think twice about the loan,” he said.

No comments: